






{"id":2980,"date":"2019-05-07T04:58:25","date_gmt":"2019-05-07T04:58:25","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=2980"},"modified":"2021-06-04T14:22:39","modified_gmt":"2021-06-04T07:22:39","slug":"shenzhen-to-trade-hong-kong-housing-model-for-singapore-style-policy","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/shenzhen-to-trade-hong-kong-housing-model-for-singapore-style-policy\/","title":{"rendered":"Shenzhen to trade Hong Kong housing model for Singapore-style policy"},"content":{"rendered":"<p>Mainland Chinese city to take a leaf out of the Little Red Dot&#8217;s playbook by 2035<\/p>\n<figure id=\"attachment_2981\" aria-describedby=\"caption-attachment-2981\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2981\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_381576037.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_381576037.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_381576037-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/05\/shutterstock_381576037-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2981\" class=\"wp-caption-text\">Shenzhen, China. Wang An Qi\/Shutterstock<\/figcaption><\/figure>\n<p>The Shenzhen government is set to provide one million subsidised homes to low-income property seekers, taking a leaf from Singapore&#8217;s longstanding Housing &amp; Development Board (HDB) scheme.<\/p>\n<p>The subsidised units will be offered at as low as half of the market rate and include public flats leasing for 30 percent of the market rent, according to a consulting paper released last week by the Housing and Construction Bureau of Shenzhen. A third type of unit will be provided at 60 percent of the market rate.<\/p>\n<p>\u201cShenzhen would like to be a pioneer seeking a scheme more like Singapore, separating more affordable homes to average individuals seeking a place to live,\u201d said Li Yujia, senior economist with the Real Estate Assessment and Development Research Centre, Shenzhen.<\/p>\n<p>The initiative is part of Shenzhen\u2019s announcement last year to offer 1.7 million homes by 2035. Sixty percent of these will be government-subsidised in efforts to contend with the city&#8217;s increasingly incendiary prices.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/hong-kong-buyers-splurge-1-5bn-on-greater-bay-area-homes\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Hong Kong buyers splurge $1.5bn on Greater Bay Area homes<\/strong><\/a><\/p>\n<p>\u201cCurrently we are still using a Hong Kong model, where most homes are built and sold as commercial products in the private market and only a small portion of cheap rental flats are designed for the poorest,\u201d Li said.<\/p>\n<p>Government homes accounted for less than 20 percent of housing stock in Shenzhen in 2018, the <a href=\"https:\/\/www.scmp.com\/business\/article\/3008902\/shenzhen-adopt-singapore-housing-policy-and-drop-hong-kong-model\" target=\"_blank\" rel=\"noopener noreferrer\">South China Morning Post<\/a> noted.<\/p>\n<p>Shenzhen properties are currently among the most expensive in China, with prices averaging USD680,283, according to CBRE\u2019s Global Living 2019 survey.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mainland Chinese city to take a leaf out of the Little Red Dot&#8217;s playbook by 2035<\/p>\n","protected":false},"author":8,"featured_media":20037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[171,189,110],"class_list":["post-2980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong","tag-shenzhen","tag-singapore","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shenzhen to trade Hong Kong housing model for Singapore-style policy | Asia Property Awards<\/title>\n<meta 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